What is a parlay calculator?
To understand the parlay payout calculator, it’s best to understand what parlay betting is in the first place. If you find yourself unable to imagine what a parlay bet calculator could be, then you may be more familiar with the term accumulator betting.
Either way, these things – like the difference between odds types – are simply different ways of saying the same thing. They’re a type of betting made up of multiple selections, with the minimum number of selections being two. What makes this type of bet different from simply making several individual bets is that all selections are part of one wager. If one of your selections loses, all of them do, and you lose the entirety of your stake.
Conversely, they provide higher payouts, with odds often reaching eye-watering amounts. While many people can probably work out the mathematics of single bets, accumulator bets can go beyond most people’s ability with numbers. The parlay odds calculator does all the work for you, allowing you to see exactly how much you’d receive should your bet be successful.
Why you need a parlay calculator
So, what use is this calculator to you? Well, it’s quite a bit easier than trying to work out the different odds and your potential payouts on your own, especially if we’re talking about those with multiple selections. Of course, some bookmakers also provide the returns of an accumulator, so how can our parlay calculator help?
Here’s five reasons we think our calculator is better than simply checking it out on your bookmaker:
You’ve not signed up to the betting site yet: Plenty of people want to know what kind of return they can receive but don’t want to have to register with a betting site to do so. Unfortunately, this is often the case, especially when you’re talking about very large accumulators.
To test the quality of bookmaker odds: Even if you’re signed up to a betting site, it’s still smart gambling to check if you can get better odds elsewhere. This parlay bet calculator allows you to compare odds between bookmakers without having to bother with multiple accounts.
It breaks down the profit: One thing that many operators fail to do is break down the difference between wagering amount and profit, which is vital to understanding whether a bet is worth your while. Our calculator has you covered.
Mix and match it with others: The parlay odds calculator isn’t all we have to offer. In addition, there’s plenty of other calculators that can be used in tandem with the parlay payout calculator to enhance your understanding of the markets.
It’s simple: We want everyone to be able to use our calculator, so simplicity is key.
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Why you need to use it and how to use our parlay odds calculator
We’ve talked about the logical reasons for using our calculator, however, let’s not forget about the practicalities of this sportsbetting odds calculator. One of its key benefits is how simple we have made the process. To show exactly how easy it is, we’ve broken down the simple steps here:
- First, head over to the betting market type. It usually comes up as ‘single’ as default. This is another reason this is so straightforward – you can go back and forth between simple bets and complicated accumulators at the touch of the button, meaning you can experiment to your heart’s content. Select ‘accumulator’ for your parlay needs above 4 selections, double and treble for less.
- Decide upon your stake. Our calculator works with multiple currencies. In other words, a £1 bet on a 1/2 fractional bet would return £1.50 or $1.50 in USD. It works this way to make it easy for everyone to use our calculator.
- Choose your preferred odds system. We have fractional and decimal to choose from. Use whichever you’re most comfortable with.
- Enter your odds up to 10 selections. Input all the odds from all your selections and, assuming you’ve entered the correct bet type, the hard work will all be done by the parlay odds calculator.
- Calculate. Well, we said it would be easy. Just hit ‘calculate’ and your potential profits and returns will be immediately clear to you.
Top tips for using the calculator for the first time
Even though we’ve done everything possible to make our parlay calculator simple, we understand that the first time trying it can come with some teething pains. Here’s five tips to avoid some of the common mistakes when using the calculator for the first time:
Make sure you change the bet type
Yes, obvious we know, but so easy to overlook! A parlay odds calculator is only that if you’ve made sure you’ve selected a relevant bet type.
Use the odds converter if needed
Right now, the parlay payout calculator uses decimal and fractional odds. If these don’t work for you, then our odds converter can help you figure out what needs to be input into the calculator to get the right results.
Don’t just look at returns
What really matters in any bet is profit (return minus stake), which is why our parlay calculator includes both.
Remember big accumulators can lead to huge profits
Of course, this is certainly no bad thing but it could, with some bookmaker, go beyond their maximum payouts – in which case, you’re risking more, either in selections or wager, for no extra gain. Our calculator can help you work out if that’s the case and how to adjust.
Don’t go complicated for the sake of it
We know with 10 selections, the temptation with the parlay bet calculator is to go big, but only do so if that works for you strategically. If going for fewer selections works for you, do that instead.
The parlay calculator is far from the only tool we offer to help you improve your betting. In fact, many of these calculators can be used alongside the parlay calculator to give you extra insights into the quality of your bets and the kind of returns you can expect.
- Betting odds calculator: Alongside being able to calculate complicated parlay bets, you can also find out the returns and profit margins from single and each-way bets. No matter which kind of bet you’re interested in, we can help you wrap your head around its value.
- Odds value calculator: Speaking of value, the kind of return you can expect to receive is not the only way of getting to know what your bet is worth. The odds value calculator doesn’t tell you how much you’ll receive in winnings: instead, it explains the implied value of odds using probability percentages and the probability of success if that bet was repeated over 100 times.
- Betting odds converter: We all have our preferences when it comes to the kind of betting odds we prefer but ultimately, they all mean the same thing. The betting odds converter means you can use whichever odds you’re comfortable with in just a couple of clicks.
- Hedging calculator: Hedging your bets means utilising different odds to figure out, mathematically, where profit is possible. However, the maths in question can be rather complicated – hence the handiness of our calculator.
- Sports betting hold calculator: Understanding the margins of bookmakers is vital in figuring out if you’ve got quality odds, but it can be tricky to work out. Use our exclusive betting hold calculator.
- Spread to moneyline converter: Spot the best markets by converting the spread to a moneyline: a vital tool for American markets.
Conclusion – Making complicated bets easier
There was a time when parlay betting was inaccessible to the casual bettor, owing to its complexity in the markets and odds involved. We hope our parlay odds calculator – along with our other tools – opens up accumulator betting to a broader audience. The ability to win big with smaller stakes has always made parlay betting a popular option for less experienced bettors. We hope this helps make that potential a reality. Simplicity and ease of use has been key to all our calculators, but perhaps none more so than here.
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Parlay Calculator FAQ
💵What is a parlay betting?
To understand our page all about our parlay odds calculator, you must first understand what parlay betting itself is all about. You can’t have one without the other after all. As part of our exclusive guide, we’ll leave no stone unturned, meaning an explanation of parlay betting generally alongside the calculator.
❓How do I use a parlay betting calculator?
Although parlay betting isn’t nearly as complicated as some people might imagine, there’s little doubt there can be some rather complicated maths involved. That’s why we’ve made our parlay betting calculator as easy to use as possible, as well as providing all the information you need to get started.
✅How is the parlay betting calculator different from your other betting calculators?
Our parlay betting calculators don’t exist in a vacuum. It’s joined by a whole host of wonderful tools here at Betting.net. To learn the differences between them and how to make the most of them, such as our sports betting odds calculator, check out our exclusive guide on everything you need to know to place more successful parlay bets.
